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07.21.2020 / Lifestyles « Back to all articles

6 Ways to Save Money on Your Rent
6 Ways to Save Money on Rent

For most people, rent is their largest monthly expense. When dealing with a crisis, or just looking at the budget, that big number stares back without mercy. Sometimes the best solution to a problem is to shake things up and change the facts. But is it possible to change the rent? It just might be.  

  

Negotiate Up Front  

When moving into a new apartment or house, do not just accept the asking rent price upfront. Negotiate with the landlord to see if there is any way to get that price down. It may feel uncomfortable, but it is more common than people think. Even if the lease is old, talking to the person in charge might yield results – especially with a track record of being a great tenant.  

  

Offer to Do Maintenance  

It is rare to get something for nothing. To reduce the rent, offer to give up a few things or to start adding something of value. Perhaps some repairs need to be made in the building, or the grass needs to be cut. Offer to do that in exchange for a break in rent. Make sure to do a great job, or this deal could go sour.  

  

Get a Roommate  

This may not be an option for everyone, but if the rent is a stranglehold, bring in someone else to help share the financial load. Bringing in another person (or two, or three) will split the cost. Be sure to get everything in writing and to pick someone livable, but hopefully, the money saved will make up for any inconvenience.  

  

Downsize or Move  

Not everyone wants to consider this option, but again, changing the factors involved can be just what is needed. If the rent is too high, it may be unaffordable. Try to find another place in town that fits the budget better. Or if the town is too expensive, why not move? Don’t worry about picking a spot that has status or will impress anyone else. Be realistic and decide within the available means.  

  

Sublet a Room  

This is like having a roommate but could be less of a headache. Letting out one or two rooms in the house or apartment will bring in the same amount of financial relief but puts the original renter in the driver’s seat. It is much easier to get rid of a bad tenant than a bad roommate! Of course, the lease may prohibit this, so be sure to double-check first.   

  

Apply for Assistance  

If all else fails, there are government programs that exist to help with expensive rent. This may be hard to consider, but these programs exist to help people in this exact situation. Of course, they may insist that everything else is tried first. Either way, it’s worth looking into.  

12.01.2020 / Lifestyles

Couple Goals - Managing Money Without Conflict
Money can be a touchy subject, and many people choose to keep their financial habits and plan to themselves. While that…

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07.21.2020 / Lifestyles « Back to all articles

6 Ways to Save Money on Your Rent
6 Ways to Save Money on Rent

For most people, rent is their largest monthly expense. When dealing with a crisis, or just looking at the budget, that big number stares back without mercy. Sometimes the best solution to a problem is to shake things up and change the facts. But is it possible to change the rent? It just might be.  

  

Negotiate Up Front  

When moving into a new apartment or house, do not just accept the asking rent price upfront. Negotiate with the landlord to see if there is any way to get that price down. It may feel uncomfortable, but it is more common than people think. Even if the lease is old, talking to the person in charge might yield results – especially with a track record of being a great tenant.  

  

Offer to Do Maintenance  

It is rare to get something for nothing. To reduce the rent, offer to give up a few things or to start adding something of value. Perhaps some repairs need to be made in the building, or the grass needs to be cut. Offer to do that in exchange for a break in rent. Make sure to do a great job, or this deal could go sour.  

  

Get a Roommate  

This may not be an option for everyone, but if the rent is a stranglehold, bring in someone else to help share the financial load. Bringing in another person (or two, or three) will split the cost. Be sure to get everything in writing and to pick someone livable, but hopefully, the money saved will make up for any inconvenience.  

  

Downsize or Move  

Not everyone wants to consider this option, but again, changing the factors involved can be just what is needed. If the rent is too high, it may be unaffordable. Try to find another place in town that fits the budget better. Or if the town is too expensive, why not move? Don’t worry about picking a spot that has status or will impress anyone else. Be realistic and decide within the available means.  

  

Sublet a Room  

This is like having a roommate but could be less of a headache. Letting out one or two rooms in the house or apartment will bring in the same amount of financial relief but puts the original renter in the driver’s seat. It is much easier to get rid of a bad tenant than a bad roommate! Of course, the lease may prohibit this, so be sure to double-check first.   

  

Apply for Assistance  

If all else fails, there are government programs that exist to help with expensive rent. This may be hard to consider, but these programs exist to help people in this exact situation. Of course, they may insist that everything else is tried first. Either way, it’s worth looking into.  

Need a
Loan?

Loans from $120 to $15,000. Get funded as soon as today!

12.01.2020 / Lifestyles

Couple Goals - Managing Money Without Conflict
Money can be a touchy subject, and many people choose to keep their financial habits and plan to themselves. While that…